Refer to Figure 12-9. Identify the short-run shut down point for the firm
A) a B) b C) c D) d
B
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Credit cards are NOT a part of the M1 or M2 money supply
Indicate whether the statement is true or false
The figure above shows the production possibilities frontier for a country. A combination of 3 million gallons of milk and 3 million gallons of ice cream is
A) unattainable and production efficient. B) unattainable. C) attainable and production inefficient. D) attainable and production efficient. E) More information is needed to determine if the point is attainable or not.
Refer to Scenario 16.1. Initially Sam and Sally are allocated 10 cheese doodles and 10 pretzels each. Which of the following statements are TRUE?
A) The initial allocation is Pareto optimal as it is equitable. B) The initial allocation is Pareto optimal as Sally and Sam have equal amounts of both goods. C) The allocation is not Pareto optimal. An allocation that gave Sam all of the cheese doodles and Sally all of the pretzels would make both of them better off. D) The allocation is not Pareto optimal. An allocation that gave Sam four of the cheese doodles and sixteen of the pretzels (leaving Sally the rest) would make both of them better off.
Aggregate planned expenditure...
a) always equals actual aggregate expenditure b) is always less than actual aggregate expenditure c) is always greater than actual aggregate expenditure d) equals actual aggregate expenditure at the equilibrium level of real GDP